ValueVision Media Inc., an Internet and TV retailer which operates ShopNBC.com, recorded 2006 web sales of $184.1 million vs. e-commerce revenue of $146 million in 2005 and $126.7 million in 2004.
At the same time, ValueVision, No. 64 in the Internet Retailer Top 500 Guide, had a net loss of $2.4 million on total revenue of $767.2 million in 2006, compared with a net loss of $15.7 million on sales of $691.6 million in 2005. Overall the web accounted for 24% of sales in 2006.
“Our continued top-line growth has given us the scale to consistently cover our fixed cost base and we have now delivered five consecutive quarters of positive EBITDA,” says ValueVision president and CEO William J. Lansing. “ShopNBC.com sets the standard in our industry for both supporting our on-air programming and aggressively growing our Internet customer base.”
Web sales in the fourth quarter also grew by 27% to $58.5 million. “We expect our Internet business to continue to grow as a percent of sales, driven by our Internet video initiatives, advanced marketing programs and Internet exclusive merchandising,” Lansing says.
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